Cramer Rosenthal Mcglynn LLC Raises Stake in LendingClub Corporation $LC

Key Points

• Cramer Rosenthal Mcglynn LLC increased its holdings in LendingClub Corporation by 32.0% during the first quarter, bringing their total shares to 1,095,238, valued at approximately $11.3 million.
• Recent insider trading revealed that CFO Andrew Labenne sold 17,955 shares while CEO Scott Sanborn sold 5,250 shares, leading to a decrease in their ownership stakes in the company.
• Analysts have raised LendingClub's price targets, with Keefe, Bruyette & Woods increasing their rating from $14.00 to $16.50, reflecting positive expectations for the company's performance.

Cramer Rosenthal Mcglynn LLC increased its stake in shares of LendingClub Corporation (NYSE:LC - Free Report) by 32.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,095,238 shares of the credit services provider's stock after purchasing an additional 265,577 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.96% of LendingClub worth $11,303,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new stake in LendingClub during the 1st quarter worth about $1,341,000. Jump Financial LLC grew its position in shares of LendingClub by 64.5% during the first quarter. Jump Financial LLC now owns 207,769 shares of the credit services provider's stock worth $2,144,000 after buying an additional 81,487 shares in the last quarter. AlphaQuest LLC grew its position in shares of LendingClub by 72.9% during the first quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider's stock worth $422,000 after buying an additional 17,224 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of LendingClub during the first quarter worth approximately $774,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in LendingClub in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insiders Place Their Bets

In related news, CFO Andrew Labenne sold 17,955 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the sale, the chief financial officer owned 178,111 shares in the company, valued at $2,965,548.15. This represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $12.98, for a total transaction of $68,145.00. Following the transaction, the chief executive officer directly owned 1,283,175 shares in the company, valued at $16,655,611.50. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,955 shares of company stock worth $545,648 over the last ninety days. Corporate insiders own 3.19% of the company's stock.

LendingClub Trading Up 2.2%

Shares of LendingClub stock traded up $0.38 on Thursday, hitting $17.19. The stock had a trading volume of 1,461,617 shares, compared to its average volume of 1,889,811. LendingClub Corporation has a 52-week low of $7.90 and a 52-week high of $18.75. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 25.09 and a beta of 2.46. The company's 50 day moving average price is $13.92 and its 200 day moving average price is $11.90.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.18. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The firm had revenue of $248.44 million for the quarter, compared to the consensus estimate of $227.04 million. During the same quarter last year, the business posted $0.13 EPS. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. Analysts predict that LendingClub Corporation will post 0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on LC. Stephens began coverage on shares of LendingClub in a report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Citigroup began coverage on shares of LendingClub in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Citizens Jmp began coverage on shares of LendingClub in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Finally, Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the company an "overweight" rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.57.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.